For much of the current real estate cycle, developers in Miami’s Edgewater neighborhood have followed the same model sketched out early by Melo Group and perfected by Related Cos.
Builders have proposed luxury high-rises with large condominium units, used complex marketing to woo mostly South American buyers into paying 50 percent deposits on their future units up front. It’s a high-risk, high-reward strategy, yet by and large, developers have tried to top each other by building larger and more luxurious buildings with splashier brands.
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